KSE-100 index sheds 183.92 points

Staff Reporter

The bears once again dominated the stock market on Monday as pressure to sell across the board continued to weigh on investor sentiment.

Brief intervals in the green came on the back of an agreement between the independent power producers (IPPs) and the government on electricity tariff. Resultantly, stocks of power firms, refineries and oil and gas marketing companies traded in the green.

Earlier, trading began with minor ups and downs and the index managed to post gains during initial hours. The KSE-100 index once again surpassed the 47,000-point mark soon after the morning bell. However, after a while, selling pressure surfaced, which pulled the index down by nearly 200 points.

On the results front, Aisha Steel Mills from the steel sector declared its results for the first half of FY21, where the company posted earnings per share of Rs1.42 as compared to loss per share of Rs1.06 in the corresponding period of previous year.

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